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[quote=Anonymous][quote=Anonymous]

I'm the PP who originally asked the question about $2M assets.

Why do you think this PP has to pay?  Because they were thrifty enough to save and everyone else did not?  We have over $2M in savings.  Do not live in a fancy house (our house is below median price for FFX county), Do not take fancy trips, etc.  I could have easily lived in a house twice as large, spent money on fancy trips, cars, etc and have close to no savings.  [b]With income at about $200K, I would get a 50% discount at a school like Rice.  That's about a $100K per kid.  With 3 kids, that's $300K[/b].  I'm now penalized for being responsible.  Put another way, my thrift is sponsoring some spendthrift a-hole!.  How is that fair?

And $2M is NOT rich.  At all. Probably not even enough to cover retirement.[/quote]

This post sounds confused.  With a HHI of between $130,000 and $200,000 Rice would give your child 50% reduced tuition, assuming you have reasonable assets.  Retirement funds, sure.  A home to live in, yes.  But if your assets include second and third homes, rental property, or ginormous retirement accounts above and beyond the tax deferred ones... you will be expected to be able to pay complete tuition.

If your HHI is $200,001 or above, you will be expected to pay ALL tuition.   So unless your HHI is below $200,000 (for Rice) you will need to have saved for college no matter what.

PP with your $2 million already in taxable retirement accounts, what is your HHI and what are your total assets? And why do you think your thrift is subsidizing others?  Did you contribute to Rice's endowment?[/quote]

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